Manchester United Shares Debut Slightly Higher

Shares of Manchester United opened slightly higher in their market debut than their $14 IPO price on the New York Stock Exchange on Friday.

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The stock of soccer club Manchester United priced on Thursday at $14 a share, below its expected range of $16 to $20 per share.

United is one of the most well-known teams on the planet. But some analysts say the debt-ridden team is overvalued.

The 134-year-old soccer club expects to make $110.3 million from its offering of 8.3 million shares. It will use $101.7 million to pay down senior notes. The Glazer family, which owns the team, is selling another 8.3 million shares separately.